January 10th, 2018
Advanced Education is not a Necessary Tool for Success in Recessions – conclusion
The effectiveness of business education in addressing challenges that arise in the modern business environment has been contested with recent financial crisis leading to the failure of businesses led by MBA-educated CEOs. Although the crisis could have been a result of the spread of a capitalist ideology that promotes unregulated market economies, the performance of a number of MBA-educated corporate leaders, vindicates the inefficiency of MBA programs in addressing current business needs.
Among the characteristics that have lowered the value of MBA programs is the observation that such programs do not impart knowledge required to address the dynamic needs of the contemporary business environment. This is argued to have resulted from an instructional approach that only confers theoretical knowledge, rather than complementing such knowledge with practical aspects that would lead to professional development of the students. Additionally the curriculum presented in the schools is argued to lack important features that would, for instance, instill sound principles of governance and accountability to the graduates. The outcomes of such an instructional approach have been witnessed in the increasing incidence of failing corporations that are led by MBA-educated CEOs. On the other hand, there are increasing cases of non-MBA CEOs successfully leading organizations to enhance such organization’s value, even with increasing competition in a globalized business environment. Such observations imply that management education, currently, may be failing to provide a fair return on the investment, with the high costs associated with pursuing such an education.
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